Supreme Court Reiterates Strict Deadline For Challenging Arbitral Award

The Apex Court, in the recent case of My Preferred Transformation and Hospitality Pvt. Ltd and Anr vs. M/s Faribad Implements Pvt. Ltd. has held that the limitation period for setting aside an arbitral award under Section 34 of the Arbitration & Conciliation Act, 1996 cannot be extended beyond the statutory time limit of 90 days after the standard condonation period of 30 days has expired even during vacation of the Court.

Facts Of The Case

The Appellant had signed a lease agreement with the Respondent, who owned a specific property. A disagreement erupted over the leased property and the Respondent began arbitration proceedings to resolve the said disagreement. The dispute was eventually settled, and the Arbitrator ruled in favour of the Respondent.